Pareto Matters November 2020

Welcome to our latest issue of Pareto Matters.

Inside, we look at a number of different topics to help you accomplish what matters most to you and your family as the festive period approaches.

In these uncertain times, it can help to focus on the things you can control. And working out what your money’s doing for you now and where it might come from in the future can give you real peace of mind.

On page 06, as another year rapidly draws to a close, many of us may already be starting to think about what resolutions we can make to improve our financial health in 2021. And even though we may resolve to improve our finances, it’s knowing where to begin that’s key.

For the first time in over a decade, the point at which people can claim a State Pension (the ‘State Pension Age’) is simple. If you have reached your 66th birthday, you can claim it. Otherwise, you cannot. Men and women born between 6 October 1954 and 5 April 1960 start receiving their pension on their 66th birthday. For those born after that, there will be a phased increase in State Pension age to age 67 in 2028, and eventually age 68 from 2037. Turn to page 03 to find out more.

There is no easy way to say it – anticipating one’s death is an uncomfortable topic. Yet it is often worth pushing past the initial discomfort to pursue the potential rewards of effective wealth transfer planning. On page 04 we consider the three places your assets can go at your death: to your family and friends, to charity or to the government in the form of taxes.

Chancellor of the Exchequer, Rishi Sunak, unveiled further support on 22 October 2020 for jobs and workers impacted by the coronavirus (COVID-19) restrictions. Announced alongside a package of business grants for companies in areas facing higher levels of coronavirus restrictions, the expansion comes after Mr Sunak first announced the Job Support Scheme (JSS) to replace furlough. Read more on page 05.

The content in this publication is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.